{"id":9756,"date":"2023-10-31T12:27:00","date_gmt":"2023-10-31T06:57:00","guid":{"rendered":"https:\/\/www.tickertape.in\/glossary\/?p=9756"},"modified":"2023-10-31T12:28:08","modified_gmt":"2023-10-31T06:58:08","slug":"monopoly","status":"publish","type":"post","link":"https:\/\/www.tickertape.in\/glossary\/monopoly\/","title":{"rendered":"Monopoly Market \u2013 Features, Reason For Existence, And Examples"},"content":{"rendered":"\n<p>There are different types of market structures that can operate in the economy. Have a look-<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"272\" src=\"https:\/\/www.tickertape.in\/glossary\/wp-content\/uploads\/2023\/10\/Market-Structure-1024x272.jpeg\" alt=\"\" class=\"wp-image-10709\" srcset=\"https:\/\/www.tickertape.in\/glossary\/wp-content\/uploads\/2023\/10\/Market-Structure-1024x272.jpeg 1024w, https:\/\/www.tickertape.in\/glossary\/wp-content\/uploads\/2023\/10\/Market-Structure-300x80.jpeg 300w, https:\/\/www.tickertape.in\/glossary\/wp-content\/uploads\/2023\/10\/Market-Structure-1536x408.jpeg 1536w, https:\/\/www.tickertape.in\/glossary\/wp-content\/uploads\/2023\/10\/Market-Structure-1024x272@2x.jpeg 2048w, https:\/\/www.tickertape.in\/glossary\/wp-content\/uploads\/2023\/10\/Market-Structure-300x80@2x.jpeg 600w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure><\/div>\n\n\n<p>These types of markets are differentiated based on the number of sellers and the type of products they sell. A monopoly market, in simple terms, means a single seller selling a unique product. The seller dominates the market by offering a unique product, setting its own prices, and high barriers restricting new entrants. It contrasts monopoly markers with perfect competition and monopolistic market structures.<\/p>\n\n\n\n<p>In this article, let us explore the monopoly market in detail, the features of the monopoly market, the difference between perfect competition and monopoly, the difference between monopoly and monopolistic competition, and more. Let&#8217;s dive in.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_22 counter-hierarchy counter-numeric\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\">You will Learn About: <\/p>\n<span class=\"ez-toc-title-toggle\"><a class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" style=\"display: none;\"><i class=\"ez-toc-glyphicon ez-toc-icon-toggle\"><\/i><\/a><\/span><\/div>\n<nav><ul class=\"ez-toc-list ez-toc-list-level-1\"><li class=\"ez-toc-page-1 ez-toc-heading-level-2\"><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.tickertape.in\/glossary\/monopoly\/#What-is-a-monopoly-market\" title=\"What is a monopoly market?\">What is a monopoly market?<\/a><\/li><li class=\"ez-toc-page-1 ez-toc-heading-level-2\"><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.tickertape.in\/glossary\/monopoly\/#Return-on-equity-Highlights\" title=\"Return on equity: Highlights\">Return on equity: Highlights<\/a><\/li><li class=\"ez-toc-page-1 ez-toc-heading-level-2\"><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.tickertape.in\/glossary\/monopoly\/#Features-of-a-monopoly-market\" title=\"Features of a monopoly market\">Features of a monopoly market<\/a><\/li><li class=\"ez-toc-page-1 ez-toc-heading-level-2\"><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.tickertape.in\/glossary\/monopoly\/#Reasons-for-the-existence-of-monopoly-markets\" title=\"Reasons for the existence of monopoly markets\">Reasons for the existence of monopoly markets<\/a><\/li><li class=\"ez-toc-page-1 ez-toc-heading-level-2\"><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.tickertape.in\/glossary\/monopoly\/#What-is-monopolistic-competition\" title=\"What is monopolistic competition?\">What is monopolistic competition?<\/a><\/li><li class=\"ez-toc-page-1 ez-toc-heading-level-2\"><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.tickertape.in\/glossary\/monopoly\/#Difference-between-perfect-competition-and-monopoly\" title=\"Difference between perfect competition and monopoly\">Difference between perfect competition and monopoly<\/a><\/li><li class=\"ez-toc-page-1 ez-toc-heading-level-2\"><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.tickertape.in\/glossary\/monopoly\/#Difference-between-monopoly-and-monopolistic-competition\" title=\"Difference between monopoly and monopolistic competition\">Difference between monopoly and monopolistic competition<\/a><\/li><li class=\"ez-toc-page-1 ez-toc-heading-level-2\"><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.tickertape.in\/glossary\/monopoly\/#Demand-curve-under-monopoly-competition\" title=\"Demand curve under monopoly competition\">Demand curve under monopoly competition<\/a><\/li><li class=\"ez-toc-page-1 ez-toc-heading-level-2\"><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/www.tickertape.in\/glossary\/monopoly\/#Price-and-output-determination-under-monopoly\" title=\"Price and output determination under monopoly\">Price and output determination under monopoly<\/a><\/li><li class=\"ez-toc-page-1 ez-toc-heading-level-2\"><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/www.tickertape.in\/glossary\/monopoly\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><li class=\"ez-toc-page-1 ez-toc-heading-level-2\"><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/www.tickertape.in\/glossary\/monopoly\/#FAQs\" title=\"FAQs\">FAQs<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"What-is-a-monopoly-market\"><\/span><strong>What is a monopoly market?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>A monopoly market is a market structure wherein there is only one seller of a product, and the seller sells a unique product. In a monopoly, the seller has the absolute power to sell their product and determine the price. New businesses often find it challenging to enter the monopoly markets as there are high entry barriers.<\/p>\n\n\n\n<div class=\"wp-block-uagb-advanced-heading uagb-block-37fca231\"><h2 class=\"uagb-heading-text\"><span class=\"ez-toc-section\" id=\"Return-on-equity-Highlights\"><\/span>Return on equity: Highlights<span class=\"ez-toc-section-end\"><\/span><\/h2><\/div>\n\n\n\n<ul>\n<li>Monopoly means a market wherein there is only one seller of a unique product.<\/li>\n\n\n\n<li>A monopoly market structure is different from perfect competition and a monopolistic market.<\/li>\n\n\n\n<li>Monopolies can maximise their profits as they are price-makers.<\/li>\n\n\n\n<li>Price and output determination is done on a short and long-term basis.<\/li>\n<\/ul>\n\n\n\n<h2><span class=\"ez-toc-section\" id=\"Features-of-a-monopoly-market\"><\/span><strong>Features of a monopoly market<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Some of the features of a monopoly market are as follows \u2013<\/p>\n\n\n\n<ul>\n<li>Monopoly businesses are called price-makers. This means that they can determine the price of their products, and the consumers, more often than not, have to accept the price because of the lack of substitutes.<\/li>\n\n\n\n<li>There are barriers to the entry of new firms.<\/li>\n\n\n\n<li>Monopolies often have price discrimination and constantly aim for profit maximisation.<\/li>\n\n\n\n<li>The monopoly business might own a resource not owned by any other business.<\/li>\n<\/ul>\n\n\n\n<h2><span class=\"ez-toc-section\" id=\"Reasons-for-the-existence-of-monopoly-markets\"><\/span><strong>Reasons for the existence of <\/strong><strong>monopoly<\/strong><strong> markets<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>A monopoly market is not very common because competitors constantly try to enter and compete to capture the markets. However, monopolies might exist because of the following reasons \u2013<\/p>\n\n\n\n<ul>\n<li>The seller has exclusive ownership of the raw material or the resources needed for the manufacturing of the product.<\/li>\n\n\n\n<li>The Government might bar the entry of other firms in a particular market, allowing one seller to enjoy a monopoly.<\/li>\n\n\n\n<li>The cost of production might be very high for a new business to bear. The existing seller, with a wide customer base, might enjoy economies of scale that a new business might not achieve in the initial years. This might discourage potential sellers from entering the market.<\/li>\n\n\n\n<li>The business might require a huge amount of <a href=\"https:\/\/www.tickertape.in\/glossary\/what-is-capital-definition-of-capital-types-and-its-importance\/\">capital<\/a>, making it difficult for other businesses to source.<\/li>\n\n\n\n<li>The seller might possess technical and technological superiority (like exclusive technology and patents), which might not be readily available to other businesses.&nbsp;<\/li>\n<\/ul>\n\n\n\n<p>A very popular example of a monopoly in India was the Life Insurance Company, formed when the Life Insurance Corporation Act, 1956, was passed by the Government. LIC enjoyed a complete monopoly in the life insurance business until 1999, when the Government liberalised the life insurance sector, and private players were allowed.&nbsp;<\/p>\n\n\n\n<p>Similarly, before satellite and cable TV were popularised, the Government had a monopoly in the broadcasting business.&nbsp;<\/p>\n\n\n\n<h2><span class=\"ez-toc-section\" id=\"What-is-monopolistic-competition\"><\/span><strong>What is monopolistic competition?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Unlike a monopoly, monopolistic competition is a structure wherein multiple sellers of a product exist. Each seller sells similar products, but their products are highly differentiated from their competitors.&nbsp;<\/p>\n\n\n\n<p>Sellers differentiate their products on the basis of technology, quality, branding, etc. Many sellers often compare their competitors\u2019 pricing and price their products accordingly.&nbsp;<\/p>\n\n\n\n<h2><span class=\"ez-toc-section\" id=\"Difference-between-perfect-competition-and-monopoly\"><\/span><strong>Difference between perfect competition and monopoly<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"346\" src=\"https:\/\/www.tickertape.in\/glossary\/wp-content\/uploads\/2023\/10\/Perfect-Competition-Vs-Monopoly-Market-1024x346.jpeg\" alt=\"\" class=\"wp-image-10710\" srcset=\"https:\/\/www.tickertape.in\/glossary\/wp-content\/uploads\/2023\/10\/Perfect-Competition-Vs-Monopoly-Market-1024x346.jpeg 1024w, https:\/\/www.tickertape.in\/glossary\/wp-content\/uploads\/2023\/10\/Perfect-Competition-Vs-Monopoly-Market-300x102.jpeg 300w, https:\/\/www.tickertape.in\/glossary\/wp-content\/uploads\/2023\/10\/Perfect-Competition-Vs-Monopoly-Market-1536x520.jpeg 1536w, https:\/\/www.tickertape.in\/glossary\/wp-content\/uploads\/2023\/10\/Perfect-Competition-Vs-Monopoly-Market-1024x346@2x.jpeg 2048w, https:\/\/www.tickertape.in\/glossary\/wp-content\/uploads\/2023\/10\/Perfect-Competition-Vs-Monopoly-Market-300x102@2x.jpeg 600w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure><\/div>\n\n\n<p>A perfect competition market structure lies on the opposite spectrum of the monopoly market structure. The differences between the two are as follows \u2013<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td><strong>Monopoly<\/strong><strong>&nbsp;<\/strong><\/td><td><strong>Perfect competition&nbsp;<\/strong><\/td><\/tr><tr><td>Only one seller in the market<\/td><td>Multiple sellers in the market<\/td><\/tr><tr><td>The seller sells a unique product<\/td><td>The sellers sell identical products<\/td><\/tr><tr><td>There are entry barriers for new firms to enter or exit the market<\/td><td>There are no entry barriers. New firms can easily enter or exit the market<\/td><\/tr><tr><td>Price is determined by the seller. As such, sellers are called price makers<\/td><td>Price is determined by the demand and supply of the product. As such, sellers are called price takers<\/td><\/tr><tr><td>No competition in the market<\/td><td>A high degree of competition<\/td><\/tr><tr><td>No close substitutes for the product are available<\/td><td>Close substitutes for the product are available&nbsp;<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2><span class=\"ez-toc-section\" id=\"Difference-between-monopoly-and-monopolistic-competition\"><\/span><strong>Difference between monopoly and monopolistic competition<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"346\" src=\"https:\/\/www.tickertape.in\/glossary\/wp-content\/uploads\/2023\/01\/Monopolistic-Competition-Vs-Monopoly-1024x346.jpeg\" alt=\"Monopolistic Competition Vs Monopoly\" class=\"wp-image-10711\" srcset=\"https:\/\/www.tickertape.in\/glossary\/wp-content\/uploads\/2023\/01\/Monopolistic-Competition-Vs-Monopoly-1024x346.jpeg 1024w, https:\/\/www.tickertape.in\/glossary\/wp-content\/uploads\/2023\/01\/Monopolistic-Competition-Vs-Monopoly-300x101.jpeg 300w, https:\/\/www.tickertape.in\/glossary\/wp-content\/uploads\/2023\/01\/Monopolistic-Competition-Vs-Monopoly-1536x519.jpeg 1536w, https:\/\/www.tickertape.in\/glossary\/wp-content\/uploads\/2023\/01\/Monopolistic-Competition-Vs-Monopoly-1024x346@2x.jpeg 2048w, https:\/\/www.tickertape.in\/glossary\/wp-content\/uploads\/2023\/01\/Monopolistic-Competition-Vs-Monopoly-300x101@2x.jpeg 600w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure><\/div>\n\n\n<p>Even monopoly and monopolistic market structures vary greatly from one another. The differences can be seen from the following points \u2013<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td><strong>Monopoly<\/strong><strong>&nbsp;<\/strong><\/td><td><strong>Monopolistic competition&nbsp;<\/strong><\/td><\/tr><tr><td>A single seller in the market<\/td><td>Multiple sellers in the market<\/td><\/tr><tr><td>A unique product is sold<\/td><td>Sellers sell similar products, but the products are differentiated based on their quality, branding, technology, etc.<\/td><\/tr><tr><td>No competition in the market<\/td><td>A high degree of competition among sellers<\/td><\/tr><tr><td>Barriers to entry and exit<\/td><td>Low barriers to entry or exit<\/td><\/tr><tr><td>Sellers are price makers<\/td><td>Sellers can control the price slightly as the buyers also have control in determining the pricing of the product.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2><span class=\"ez-toc-section\" id=\"Demand-curve-under-monopoly-competition\"><\/span><strong>Demand curve under <\/strong><strong>monopoly<\/strong><strong> competition<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The monopoly business faces a downward-sloping demand curve. This means that if the price rises, the demand falls and vice-versa. The demand curve is also called the Average Revenue (AR) curve since the monopolist is the only seller in the market.<\/p>\n\n\n\n<h2><span class=\"ez-toc-section\" id=\"Price-and-output-determination-under-monopoly\"><\/span><strong>Price and output determination under monopoly<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Under a monopoly, the businesses aim for maximum profit generation from being the only seller of the product. However, a business cannot control the demand, which can fall at higher prices.<\/p>\n\n\n\n<p>A monopolist cannot determine both output and price. They have to choose one. They can either determine the price of their products or let the demand curve determine the output that would be sold. Alternatively, they can determine the output and let the price be determined by consumer demand.&nbsp;<\/p>\n\n\n\n<p>Price and output determination differs across short and long-run periods. In the short-run, the monopolist can have three instances \u2013<\/p>\n\n\n\n<ul>\n<li>Abnormal profits<\/li>\n\n\n\n<li>Normal profits<\/li>\n\n\n\n<li>Losses&nbsp;<\/li>\n<\/ul>\n\n\n\n<p>Take a look at the images below \u2013<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter\"><img decoding=\"async\" src=\"https:\/\/lh6.googleusercontent.com\/Ns28bFpzFUaEeNfdPPDc23QeF9krGydWxGpReo9SThXcISvrM_gZuuXtYXP5IHURlbPCz55i7FSbk-5sMLSm3dgqoaKQvo7Bei2iQBkqVCqoY8TZH9Zpv__6m2IbtndaPZLtgsodhmBf4hZNfkfYkGUq6nQ9zBzUqz1SbRBCR2HfrdCFf082cubbdn6RReers7YSDHjYFQ\" alt=\"topic 7.1\"\/><\/figure><\/div>\n\n\n<p><a href=\"https:\/\/theintactone.com\/2019\/10\/19\/be-u4-topic-7-monopoly-and-determination-of-price-under-monopoly\/\" rel=\"nofollow noopener\" target=\"_blank\"><\/a>MR = Marginal Revenue, i.e. revenue earned per additional unit sold<\/p>\n\n\n\n<p>AR = Average Revenue, i.e., revenue per unit sold. It is also called the demand curve.&nbsp;<\/p>\n\n\n\n<p>MC = marginal cost, i.e., the additional production cost per unit.<\/p>\n\n\n\n<p>AC = Average cost, i.e., the average production cost per unit.<\/p>\n\n\n\n<p>E = equilibrium point wherein MR = MC.<\/p>\n\n\n\n<h2><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><strong>Conclusion<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>A monopoly is a market structure that completely depends on one seller for a product. Monopoly markets have high entry barriers and are different from monopolistic markets and perfect competition. Legislations usually restrict monopolies to allow free competition in the market for the buyers\u2019 benefit.<\/p>\n\n\n\n<h2><span class=\"ez-toc-section\" id=\"FAQs\"><\/span><strong>FAQs<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<div class=\"wp-block-uagb-faq uagb-faq__outer-wrap uagb-block-ae0b48cf uagb-faq-icon-row uagb-faq-layout-accordion uagb-faq-expand-first-true uagb-faq-inactive-other-true uagb-faq__wrap uagb-buttons-layout-wrap uagb-faq-equal-height\" data-faqtoggle=\"true\" role=\"tablist\">\n<div class=\"wp-block-uagb-faq-child uagb-faq-child__outer-wrap uagb-faq-item uagb-block-ff82c7d1\" role=\"tab\" tabindex=\"0\"><div class=\"uagb-faq-questions-button uagb-faq-questions\"><span class=\"uagb-icon uagb-faq-icon-wrap\"><svg xmlns=\"https:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 448 512\"><path d=\"M432 256c0 17.69-14.33 32.01-32 32.01H256v144c0 17.69-14.33 31.99-32 31.99s-32-14.3-32-31.99v-144H48c-17.67 0-32-14.32-32-32.01s14.33-31.99 32-31.99H192v-144c0-17.69 14.33-32.01 32-32.01s32 14.32 32 32.01v144h144C417.7 224 432 238.3 432 256z\"><\/path><\/svg><\/span><span class=\"uagb-icon-active uagb-faq-icon-wrap\"><svg xmlns=\"https:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 448 512\"><path d=\"M400 288h-352c-17.69 0-32-14.32-32-32.01s14.31-31.99 32-31.99h352c17.69 0 32 14.3 32 31.99S417.7 288 400 288z\"><\/path><\/svg><\/span><span class=\"uagb-question\"><strong>What are the drawbacks of a monopoly?<\/strong><\/span><\/div><p class=\"uagb-faq-content\">Some drawbacks of a monopoly market structure include price fixing, inflation, limited innovation, profit maximisation, etc.\u00a0<\/p><\/div>\n\n\n\n<div class=\"wp-block-uagb-faq-child uagb-faq-child__outer-wrap uagb-faq-item uagb-block-dd41cdde\" role=\"tab\" tabindex=\"0\"><div class=\"uagb-faq-questions-button uagb-faq-questions\"><span class=\"uagb-icon uagb-faq-icon-wrap\"><svg xmlns=\"https:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 448 512\"><path d=\"M432 256c0 17.69-14.33 32.01-32 32.01H256v144c0 17.69-14.33 31.99-32 31.99s-32-14.3-32-31.99v-144H48c-17.67 0-32-14.32-32-32.01s14.33-31.99 32-31.99H192v-144c0-17.69 14.33-32.01 32-32.01s32 14.32 32 32.01v144h144C417.7 224 432 238.3 432 256z\"><\/path><\/svg><\/span><span class=\"uagb-icon-active uagb-faq-icon-wrap\"><svg xmlns=\"https:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 448 512\"><path d=\"M400 288h-352c-17.69 0-32-14.32-32-32.01s14.31-31.99 32-31.99h352c17.69 0 32 14.3 32 31.99S417.7 288 400 288z\"><\/path><\/svg><\/span><span class=\"uagb-question\"><strong>Can the Government allow or block monopolies?<\/strong><\/span><\/div><p class=\"uagb-faq-content\">Yes, Governments have complete control over monopolies. They can allow or even block one from forming.\u00a0<\/p><\/div>\n\n\n\n<div class=\"wp-block-uagb-faq-child uagb-faq-child__outer-wrap uagb-faq-item uagb-block-c2675f3e\" role=\"tab\" tabindex=\"0\"><div class=\"uagb-faq-questions-button uagb-faq-questions\"><span class=\"uagb-icon uagb-faq-icon-wrap\"><svg xmlns=\"https:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 448 512\"><path d=\"M432 256c0 17.69-14.33 32.01-32 32.01H256v144c0 17.69-14.33 31.99-32 31.99s-32-14.3-32-31.99v-144H48c-17.67 0-32-14.32-32-32.01s14.33-31.99 32-31.99H192v-144c0-17.69 14.33-32.01 32-32.01s32 14.32 32 32.01v144h144C417.7 224 432 238.3 432 256z\"><\/path><\/svg><\/span><span class=\"uagb-icon-active uagb-faq-icon-wrap\"><svg xmlns=\"https:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 448 512\"><path d=\"M400 288h-352c-17.69 0-32-14.32-32-32.01s14.31-31.99 32-31.99h352c17.69 0 32 14.3 32 31.99S417.7 288 400 288z\"><\/path><\/svg><\/span><span class=\"uagb-question\"><strong>Can monopolies limit economic development?<\/strong><\/span><\/div><p class=\"uagb-faq-content\">Yes, monopolies usually restrict economic development by prohibiting competition, innovation, higher prices, limited supplies, etc. That is why Governments do not promote monopolies.\u00a0<\/p><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Monopoly is a type of market that is characterised by a single seller that sells a unique product. Read more about market structure and monopoly market.<\/p>\n","protected":false},"author":96,"featured_media":9775,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"spay_email":""},"categories":[1],"tags":[1929],"jetpack_featured_media_url":"https:\/\/www.tickertape.in\/glossary\/wp-content\/uploads\/2023\/01\/09.png","uagb_featured_image_src":{"full":["https:\/\/www.tickertape.in\/glossary\/wp-content\/uploads\/2023\/01\/09.png",2086,1086,false],"thumbnail":["https:\/\/www.tickertape.in\/glossary\/wp-content\/uploads\/2023\/01\/09-150x150.png",150,150,true],"medium":["https:\/\/www.tickertape.in\/glossary\/wp-content\/uploads\/2023\/01\/09-300x156.png",300,156,true],"medium_large":["https:\/\/www.tickertape.in\/glossary\/wp-content\/uploads\/2023\/01\/09.png",768,400,false],"large":["https:\/\/www.tickertape.in\/glossary\/wp-content\/uploads\/2023\/01\/09-1024x533.png",770,401,true],"1536x1536":["https:\/\/www.tickertape.in\/glossary\/wp-content\/uploads\/2023\/01\/09-1536x800.png",1536,800,true],"2048x2048":["https:\/\/www.tickertape.in\/glossary\/wp-content\/uploads\/2023\/01\/09-2048x1066.png",2048,1066,true],"authorship-box-avatar":["https:\/\/www.tickertape.in\/glossary\/wp-content\/uploads\/2023\/01\/09-150x150.png",150,150,true],"authorship-box-related":["https:\/\/www.tickertape.in\/glossary\/wp-content\/uploads\/2023\/01\/09-70x70.png",70,70,true],"post-thumbnail":["https:\/\/www.tickertape.in\/glossary\/wp-content\/uploads\/2023\/01\/09-270x180.png",270,180,true],"contentberg-main":["https:\/\/www.tickertape.in\/glossary\/wp-content\/uploads\/2023\/01\/09-770x515.png",770,515,true],"contentberg-main-full":["https:\/\/www.tickertape.in\/glossary\/wp-content\/uploads\/2023\/01\/09-1170x508.png",1170,508,true],"contentberg-slider-stylish":["https:\/\/www.tickertape.in\/glossary\/wp-content\/uploads\/2023\/01\/09-900x515.png",900,515,true],"contentberg-slider-carousel":["https:\/\/www.tickertape.in\/glossary\/wp-content\/uploads\/2023\/01\/09-370x370.png",370,370,true],"contentberg-slider-grid-b":["https:\/\/www.tickertape.in\/glossary\/wp-content\/uploads\/2023\/01\/09-554x466.png",554,466,true],"contentberg-slider-grid-b-sm":["https:\/\/www.tickertape.in\/glossary\/wp-content\/uploads\/2023\/01\/09-306x466.png",306,466,true],"contentberg-slider-bold-sm":["https:\/\/www.tickertape.in\/glossary\/wp-content\/uploads\/2023\/01\/09-150x150.png",150,150,true],"contentberg-grid":["https:\/\/www.tickertape.in\/glossary\/wp-content\/uploads\/2023\/01\/09-370x245.png",370,245,true],"contentberg-list":["https:\/\/www.tickertape.in\/glossary\/wp-content\/uploads\/2023\/01\/09-260x200.png",260,200,true],"contentberg-list-b":["https:\/\/www.tickertape.in\/glossary\/wp-content\/uploads\/2023\/01\/09-370x305.png",370,305,true],"contentberg-thumb":["https:\/\/www.tickertape.in\/glossary\/wp-content\/uploads\/2023\/01\/09-87x67.png",87,67,true],"contentberg-thumb-alt":["https:\/\/www.tickertape.in\/glossary\/wp-content\/uploads\/2023\/01\/09-150x150.png",150,150,true]},"uagb_author_info":{"display_name":"Nikitha","author_link":""},"uagb_comment_info":0,"uagb_excerpt":"Monopoly is a type of market that is characterised by a single seller that sells a unique product. Read more about market structure and monopoly market.","_links":{"self":[{"href":"https:\/\/www.tickertape.in\/glossary\/wp-json\/wp\/v2\/posts\/9756"}],"collection":[{"href":"https:\/\/www.tickertape.in\/glossary\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.tickertape.in\/glossary\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.tickertape.in\/glossary\/wp-json\/wp\/v2\/users\/96"}],"replies":[{"embeddable":true,"href":"https:\/\/www.tickertape.in\/glossary\/wp-json\/wp\/v2\/comments?post=9756"}],"version-history":[{"count":8,"href":"https:\/\/www.tickertape.in\/glossary\/wp-json\/wp\/v2\/posts\/9756\/revisions"}],"predecessor-version":[{"id":10716,"href":"https:\/\/www.tickertape.in\/glossary\/wp-json\/wp\/v2\/posts\/9756\/revisions\/10716"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.tickertape.in\/glossary\/wp-json\/wp\/v2\/media\/9775"}],"wp:attachment":[{"href":"https:\/\/www.tickertape.in\/glossary\/wp-json\/wp\/v2\/media?parent=9756"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.tickertape.in\/glossary\/wp-json\/wp\/v2\/categories?post=9756"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.tickertape.in\/glossary\/wp-json\/wp\/v2\/tags?post=9756"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}